Opinion – Wednesday 5 July 2017

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With the US market closed for the Independence Day holiday, the focus has been elsewhere and for the markets in both Asia and Europe. It has not been a big 24 hours as far as price action was concerned, the Eurostoxx 600 index off 0.29%, European bond markets with a...

Opinion – Tuesday 4 July 2017

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Seven of my nine market calls got hit yesterday in what turned out to be a volatile trading session as markets started Q3 in a risk positive tone supported by mostly positive data releases. Equities had a good day in Europe and a solid one in the US, although...

Opinion – Monday 3 July 2017

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A dramatic week ended without too much additional fanfare on Friday. The global yield back up extended but only slightly, the dollar finished fairly flat overall and stocks mixed (US mostly higher, Europe weaker). Neither the US core PCE deflator (1.4% from 1.5%) nor...

Opinion – Friday 30 June 2017

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The shift in tone from Central Banks in Europe and the US continued to drive financial markets, with stocks and bonds again selling off in what is turning out to be the most volatile trading week so far this year. The US Technology sector’s woes deepened as renewed...

Opinion – Thursday 29 June 2017

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Central Banks set the tone on global financial markets yesterday, with the latest comments from policy officials sparking a risk-on-mood that sent US stocks to their biggest gain in two months and roiled currencies from Sterling to the Canadian Dollar. ‘’it’s time to...

Opinion – Wednesday 28 June 2018

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As summer times kicks into full mode in Europe, ECB President Draghi play list is slowly but surely moving away from QE as he sounded more upbeat in a long time. On paper, not a lot was expected from yesterday’s trading session, but in the end we had pretty decent...

Opinion – Tuesday 27 June 2017

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In an otherwise relatively quiet trading session with only the mildest of risk-on tones, gold was something of a standout. The price action came at 9am London time ( just after I posted yesterday’s commentary ) when gold immediately plunged by $20/oz after a huge...

Opinion – Monday 26 June 2017

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Canada was to blame for what little price action there was on Friday, in FX at least, in which the Canadian dollar was the only currency to end the day down against a generally falling US dollar, following much weaker than expected Canadian CPI. Headline inflation...

Opinion – Friday 23 June 2017

Futures Trading Education

In terms of market moves yesterday was a quiet trading session with only minor changes in currencies (USD flat), equities (S&P500 -0.1%) and Bond Yields (USTs -1.8bps). The biggest moves occurred in the Canadian dollar, (+0.7%) Norwegian Krone (+0.5%) and Kiwi...

Opinion – Thursday 22 June 2017

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A lingering risk off tone remains evident in markets with equities on either side of the Atlantic ending the day with small losses. Oil prices are again lower weighing on energy shares and commodity linked currencies while US Treasury Yields are little changed after...

Opinion – Wednesday 21 June 2017

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Yesterday’s trading session was one of more UK political uncertainty with still no government formed (and with the Queen’s speech to Parliament today that is going to be voted on), a dovish Mark Carney (hot on the heels of last week’s surprise three votes on the MPC...

Opinion – Tuesday 20 June 2017

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The US Equity markets made New and all-time closing highs for both the Dow and S&P 500, following upbeat comments from Fed Member Dudley who noted that financial conditions remain easy and that there is a need ‘’to tighten monetary policy very judiciously’’. His...

Opinion – Monday 19 June 2017

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Friday’s markets were not just about more weak data – important as that was with US Housing Starts, Housing Permits and Consumer Sentiment all much weaker than expected and driving the US dollar and US bond yields lower. Amazon’s $13.7bn bid for Whole Foods sent...

Opinion – Friday 16 June 2017

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A split Bank of England (BoE) decision to keep Interest Rates unchanged and another fall in oil prices were the two big events over the past 24 hours. In terms of market moves, equities were slightly lower (S&P500 – 0.2%), the US dollar was stronger (+0.6%)...